The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, on Tuesday met with local contractors, expressing the federal government’s commitment to resolving outstanding obligations in a fair, transparent, and structured manner.
Oyedele said doing so was part of broader efforts to sustain economic reforms and strengthen public confidence.
The minister gave the assurance at a high-level meeting with representatives of the All-Indigenous Contractors Association of Nigeria in Abuja, aimed at addressing the prolonged impasse between the federal government and indigenous service providers.
The local contractors had a prolonged battle with the former Finance Minister, Mr. Wale Edun over the government’s failure to pay for long-executed contracts.
In a statement, the Head, Information and Public Relations Unit of the Federal Ministry of Finance, Efe Ovuakporie said Oyedele’s engagement with the contractors on Monday focused on outstanding payments related to capital expenditure, with discussions centred on the need for clarity, accountability, and a credible framework for resolving verified claims.
The minister emphasised that the process will balance fiscal realities with the government’s responsibility to honour legitimate obligations.
“Resolving these obligations is important not just for contractors, but for confidence in government, job creation, business continuity, and overall economic stability,” the minister stated.
He acknowledged the concerns raised by the contractors, particularly regarding delayed payments, contract variations, and the impact of ongoing fiscal reforms on project execution.
Oyedele assured stakeholders that the government was working closely with relevant institutions to reconcile outstanding claims and establish a clear and sustainable payment structure.
The minister noted that while the administration remains committed to bold and necessary reforms to stabilise the economy, such measures will continue to be implemented with due consideration for stakeholders to minimize disruptions.
“The government recognises the critical role local contractors play in infrastructure development and economic growth. We are determined to resolve all outstanding issues through structured engagement within the framework of fiscal responsibility,” he added.
The meeting had in attendance the Permanent Secretary, Federal Ministry of Finance, Mr. Raymond Omachi; Permanent Secretary, Special Duties, Mr. Mohammed Sanusi Danjuma; the Accountant-General of the Federation, Mr. Shamseldeen Ogunjimi; the Director, Cash Management, Federal Ministry of Finance; and the Director, Funds, and other line Directors both from the Finance Ministry and the Office of the Accountant-General of the Federation.
Representatives of the contractors commended the minister for initiating the dialogue and expressed optimism that the renewed engagement would lead to practical and lasting solutions.
They also pledged their continued cooperation with the government to ensure the timely delivery of critical infrastructure projects across the country.
Ndubuisi Francis
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